Best Buy (NYSE:BBY) Announces Quarterly Earnings Results

Best Buy (NYSE:BBY) released its quarterly earnings results on Thursday. The technology retailer reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18, RTT News reports. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a net margin of 2.90% and a return on equity of 47.56%. Best Buy’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 EPS. Best Buy updated its FY 2025 guidance to 6.100-6.350 EPS and its FY25 guidance to $6.10-$6.35 EPS.

Best Buy Stock Performance

Shares of BBY stock opened at $100.35 on Friday. Best Buy has a 1-year low of $62.30 and a 1-year high of $103.71. The company has a market capitalization of $21.65 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.76 and a beta of 1.48. The company has a current ratio of 1.01, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37. The stock’s fifty day simple moving average is $85.74 and its 200-day simple moving average is $80.92.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be given a $0.94 dividend. The ex-dividend date is Thursday, September 19th. This represents a $3.76 annualized dividend and a dividend yield of 3.75%. Best Buy’s dividend payout ratio (DPR) is presently 65.85%.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 691,328 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the completion of the sale, the chairman now directly owns 14,911,525 shares in the company, valued at $1,319,073,501.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman Richard M. Schulze sold 691,328 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the completion of the sale, the chairman now directly owns 14,911,525 shares in the company, valued at $1,319,073,501.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 1,000,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $85.85, for a total value of $85,850,000.00. Following the completion of the transaction, the chairman now owns 15,890,103 shares in the company, valued at approximately $1,364,165,342.55. The disclosure for this sale can be found here. Insiders have sold a total of 2,383,370 shares of company stock valued at $208,083,276 in the last 90 days. 0.59% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company upped their target price on Best Buy from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday. UBS Group upped their price objective on Best Buy from $106.00 to $123.00 and gave the company a “buy” rating in a report on Friday. Bank of America lifted their target price on Best Buy from $70.00 to $80.00 and gave the stock an “underperform” rating in a report on Friday. Piper Sandler reiterated an “overweight” rating and issued a $114.00 price target (up from $100.00) on shares of Best Buy in a research report on Friday. Finally, Citigroup raised their price objective on shares of Best Buy from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $100.94.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.